The National Bank for Agriculture and Rural Development (NABARD) celebrated its 44th Foundation Day at the Lalit Hotel in Chandigarh on Wednesday, with a strong focus on grassroots empowerment and cooperative development. The event saw the participation of key dignitaries, including Dr. Arvind Sharma, Minister for Cooperation, Haryana, who served as Chief Guest.
Dr. Sharma praised NABARD’s decades-long contribution to rural development and emphasized its alignment with the national vision of Viksit Bharat 2047. Drawing inspiration from Mahatma Gandhi’s belief that “India’s soul lives in its villages,” he called for a renewed thrust to bridge the rural–urban divide. He noted that under the leadership of Prime Minister Narendra Modi and Union Minister of Cooperation Amit Shah, the cooperative movement has gained unprecedented momentum.
In a landmark revelation, Dr. Sharma announced that over 13 crore farmers across India have now joined Primary Agricultural Credit Societies (PACS). Highlighting Haryana’s leading role in this transformation, he shared that the state has already established 161 CM PACS, with budgetary provisions in place for a total of 500. These cooperatives aim to connect every village with essential services and economic opportunities, ensuring rural development keeps pace with urban progress.
Dr. Sharma underlined Haryana’s agricultural achievements under Chief Minister Nayab Saini, including becoming the first state to offer Minimum Support Price (MSP) on 24 crops. He also spoke of new cooperative policies in the pipeline and emphasized the state’s commitment to farmer-centric schemes and cooperative education, notably with the upcoming Tribhuvan Cooperative University, which he said would be a milestone in training and capacity-building for the sector.
The Minister also visited an exhibition featuring products by Farmer Producer Organizations (FPOs), Self Help Groups (SHGs), Joint Liability Groups (JLGs), and Handloom Producer Cooperatives (HPCs). Interacting with the entrepreneurs, he applauded their creativity and encouraged them to continue building rural enterprise ecosystems. He later felicitated top-performing PACS, District Central Cooperative Banks (DCCBs), and State Cooperative Banks (StCBs) under the PACS Computerisation Scheme. Certificates and grants were awarded to FPOs, and Micro ATMs were distributed to dairy societies.
Addressing the gathering, Vivek Shrivastava, Regional Director, Reserve Bank of India, proposed transforming PACS into village-level startup incubators offering capital, training, and digital tools. His suggested three-tier strategy called for institutional reform, financial innovation, and social empowerment, with special emphasis on youth and women participation, and initiatives like One Village, One Product.
Smt. Nivedita Tiwari, Chief General Manager of NABARD Haryana Regional Office, reflected on NABARD’s journey over four decades. She said NABARD has been instrumental in expanding rural credit, digitalizing cooperative institutions, and nurturing grassroots organizations like SHGs, FPOs, and JLGs. With continuous refinance support and infrastructural development such as Core Banking Solutions and PACS computerization, NABARD continues to strengthen last-mile rural financial access.
The event drew senior officials from state governments, cooperative and commercial banks, and NGOs, alongside NABARD staff and representatives from grassroots rural institutions. Although NABARD’s Foundation Day falls on July 12, the Chandigarh Regional Office celebrated it today, reaffirming its commitment to Shashakt Gramin, Shashakt Bharat, a strong rural India as the foundation of a strong nation.
